FTSE 100 movers: InterCo Hotels climbs on bid speculation

23rd Jun 2014 15:52

Shares in InterContinental Hotels Group was near record levels - and technical resistance - with brokers still citing takeover speculation in their reports to clients as the main catalyst behind the recent rise in the stock. Deutsche Bank helped lift BG Group after it reitered its 'buy' recommendation for the stock and raised its target price from 1,250p to 1,400p. The broker said it believes that the best way to create value is for the company to demerge its liquefied natural gas (LNG) operations.Mining stocks soared higher on last night's positive China data, which revealed that its purchasing managers' index (PMI), a key measure of the China's manufacturing sector, rose to 50.8 in June from 49.4 in May. A figure above 50 indicates growth.Rio Tinto, Randgold Resources, BHP Billiton, Fresnillo and Antofagasta all moved higher. Meanwhile, house builders such as Barratt Developments, Persimmon and CRH were lower amid speculation about the near-term future of interest rates in the UK. FTSE 100 - RisersInterContinental Hotels Group (IHG) 2,365.00p +2.60%BG Group (BG.) 1,270.50p +2.50%ARM Holdings (ARM) 909.00p +2.25%Rio Tinto (RIO) 3,134.00p +1.84%Randgold Resources Ltd. (RRS) 4,899.00p +1.81%BHP Billiton (BLT) 1,935.50p +1.79%Fresnillo (FRES) 861.50p +1.71%Royal Mail (RMG) 490.90p +1.49%Standard Chartered (STAN) 1,279.00p +1.11%Antofagasta (ANTO) 778.50p +1.04%FTSE 100 - FallersBarratt Developments (BDEV) 350.20p -2.88%Rolls-Royce Holdings (RR.) 1,062.00p -2.12%CRH (CRH) 1,590.00p -1.97%AstraZeneca (AZN) 4,383.00p -1.95%Johnson Matthey (JMAT) 3,042.00p -1.87%Royal Bank of Scotland Group (RBS) 331.00p -1.84%Melrose Industries (MRO) 257.20p -1.83%WPP (WPP) 1,257.00p -1.80%easyJet (EZJ) 1,426.00p -1.79%Persimmon (PSN) 1,208.00p -1.79%NR